Multi Commodity Exchange of India (MCX), India’s No. 1 commodity exchange, commenced futures trading in Refined, Bleached and Deodorized (RBD) Palmolein on April 5, 2017. This new contract, expands the existing suite of Agri products being traded on MCX Platform. RBD Palmolein futures contract on MCX has garnered good response.
The exchange has currently launched May, June, and July 2017 contracts in RBD Palmolein, with 10 MT as the trading unit and Kandla (Gujarat) as the basis centre. The transaction charges on RBD Palmolein futures contract is Rs 1.0 per Rs 1 lakh of turnover.
This new RBD Palmolein futures contract, alongside the existing Crude Palm Oil (CPO) contract is expected to benefit refiners, importers, and palmolein end users, providing such market participants a complete solution to manage refining margins and hedge against unfavourable price movements in the global crude palm oil and palmolein markets.
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